8409 Boulder Banks Ct, Colorado Springs, CO 80927
5 beds · 4 baths · 5,143 sqft
Welcome to this beautiful home which sits on an exquisite corner lot backing to the open nature reserve with breathtaking mountain views in coveted Banning Lewis Ranch! This home is move in ready. The immense deck is fitting for entertaining as well as relaxing while enjoying nature and the views of Pikes Peak. Five Bonny Blues Spruce trees line the back yard with an Autumn Blaze set in the corner of the property displaying a vibrant blazing red in fall. A sizable water feature with color changing LED light controlled by phone app creates a perfect atmosphere to relax. Xeriscape: turf and decorative rocks for minimal water use and low maintenance. 410 square foot turf in backyard. This yard also has a flagstone patio perfect for sitting area with fire pit or future pergola/gazebo and five vegetable planter boxes with irrigation. Home is located on a cul-de-sac and sits up against a beautiful, lush watershed as a result, this home has only 1 next-door neighbor. Watershed is the home to a variety birds and small wildlife. Antelope, deer, and foxes have been spotted in watershed. Three car garage with utility garage door that opens to the back yard. This community offers award-winning K-8 School Banning Lewis Ranch Academy. Clubhouse with 24-hour fitness room and outdoor Jr. Olympic heated pool, 60+ acres of hiking trails and parks plus lots more. Enjoy the Colorado mornings and evenings form your beautiful unobstructed yard.
Source: PPMLS #9642295
Financials
Source: Public records
Source: PPMLS #9642295
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.